GNPC To Consider Fresh Offer For Kosmos Shares

The Ghana National Petroleum Corporation says it would weigh its options very carefully any time Kosmos Energy declares a fresh intent to sell its stake in the Jubilee oilfield.

This follows announcement by the Texas-based oil exploration firm that it has terminated an earlier agreement to sell its minority stake in Jubilee to ExxonMobil.

Though it did not state reasons for the decision, there have been suggestions that the Jubilee partner may just be re-evaluating its decision in the hope that it could get more for the stake in the future.

The termination of the sales agreement however gives other interested parties, particularly the GNPC an opportunity to pursue the stake.

But Head of Economic Evaluation at the GNPC, Kwame Ntow-Amoah says it may be early days yet. He tells Joy Business the corporation still has scores to settle with Kosmos. Kwame Ntow-Amoah said it is not the interest of GNPC to force partners out but stressed the corporation still has outstanding issues to deal with Kosmos following the data they gave out to other companies without express approval from GNPC.

He said that is a clear breach of the country?s laws and will need to sort those issues out with Kosmos. He added however that whenever Kosmos expresses interest in selling their shares again, GNPC will take a decision whether to buy it or not.